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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

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TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Adnoc joins international hydrogen council

ADNOC together with BP, placed a $4 billion offer to purchase half of NewMed Energy, an Israeli company.
    • Hydrogen and its carrier fuels are believed to have great potential as new low-carbon fuels

    • The council is an international organisation that aims to accelerate the global position of hydrogen through its member companies

    • Launched in 2017, the council now includes some of the world’s largest companies, particularly in the energy and transportation sectors

    The Abu Dhabi National Oil Company, or Adnoc, has been granted entry into the Hydrogen Council, said local reports on Wednesday, July 14.

    Hydrogen and its carrier fuels are believed to have great potential as new low-carbon fuels.

    The council is an international organisation that aims to accelerate the global position of hydrogen through its member companies.

    Launched in 2017, the council now includes some of the world’s largest companies, particularly in the energy and transportation sectors.

    It is of the belief that hydrogen will account for as much as 18% of the global energy demand by 2050, with over 30 countries having released hydrogen roadmaps and more than 228 large-scale projects underway.

    Adnoc itself has several hydrogen projects in the pipeline. For example, it said in May that it was planning to build a world-scale “blue” ammonia production facility in Ruwais in Abu Dhabi, with an annual capacity of 1,000 kilotons.

    Blue ammonia is made from nitrogen and “blue” hydrogen, which is derived from natural gas feedstocks. The carbon dioxide by-product obtained from hydrogen production is captured and stored.

    In April, it said it was “keen to explore the hydrogen market with India’s public and private sectors” to support the country’s “growing demand for energy and need for cleaner fuels.”

    More recently, it said it would explore the commercial potential of blue ammonia production in the UAE with Japanese companies INPEX Corporation, and JERA Co, with government agency Japan Oil, Gas and Metals National Corporation.